TruFin Announces New CEO Incentive Plan
Why we think this is neutral
The RNS announcement is about a new CEO incentive plan, which does not fall under the mandatory news types that require further in-depth analysis. While the details of the plan are provided, there is no immediate financial impact or trading update included in the announcement.
Key Points
- CEO surrendered existing time-vested option to acquire 4,868,420 shares
- CEO granted new options to acquire up to 4,850,000 shares, subject to share price hurdles
- New options granted under Long Term Incentive Plan, vesting on 1 January 2026
- CEO's notice period extended from 3 to 12 months
- 550,000 options granted to CFO and other senior employees under LTIP
Summary
The financial services company has announced a new incentive plan for its Chief Executive Officer, involving the surrender of existing options and the grant of new options.
TruFin plc has announced a new incentive plan for its Chief Executive Officer, James van den Bergh. The key details are:
- Van den Bergh has surrendered his existing time-vested option to acquire 4,868,420 ordinary shares at an exercise price of £0.706 per share.
- In exchange, Van den Bergh has been granted new options to acquire up to 4,850,000 ordinary shares at an exercise price of £0.75 per share, subject to various share price hurdles.
- The new options have been granted under the company's Long Term Incentive Plan and will vest on 1 January 2026, subject to a two-year clawback period.
- The company has also extended the CEO's notice period from 3 to 12 months.
- Additionally, the company has granted 550,000 options under the LTIP to the Chief Financial Officer and other senior employees, subject to performance criteria.
Key Dates
1 January 2026
Vesting of CEO's new options under Long Term Incentive Plan
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